Europe's wind energy sector has proven pivotal in securing both the region's energy independence and industrial growth strategy, according to a new report released by ETIPWind.
The report, detailing the wind industry's performance in 2023, highlighted significant contributions to Europe's economy, with wind energy installations meeting 20% of the continent's electricity demand. Denmark led the charge, fulfilling 56% of its electricity needs through wind, followed closely by Ireland, Germany, the UK, Netherlands, and Spain.
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Key findings from the study indicate that Europe boasted 272GW of wind capacity by the end of 2023, predominantly onshore, reflecting its vital role in the region's energy mix.
“In 2023, the wind sector made a substantial economic impact, contributing €57.2bn to Europe's GDP,” stated the report, with €34.5bn directly attributable to developers, manufacturers, and component suppliers.
Moreover, the industry's export prowess was evident, with €11bn in goods and services shipped abroad during the year, underscoring its global competitiveness.
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The study also underscored the sector's employment potential, sustaining 370,000 jobs across Europe in 2023, up from 247,000 a decade earlier. Local communities hosting wind farms also benefited, receiving approximately €10bn in tax revenues and other economic boosts.
Highlighting its environmental contribution, the report noted that wind energy generation in 2023 prevented 139 million tonnes of CO2 emissions, equivalent to €11.6bn in avoided costs based on EU emission allowance prices.
Looking ahead, the wind industry remains committed to growth and innovation, increasing its research and innovation (R&I) investments for the second consecutive year. In 2023, R&I spending reached 3.79% of the industry's GDP contribution, surpassing EU targets for R&I investment.
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ETIPWind emphasized the need for sustained R&I investments, projecting a requirement of €1.8bn in public funding between 2025 and 2027 to accelerate wind R&I initiatives.
To meet ambitious renewable energy targets for 2030, the report called for an annual installation of 30GW of capacity, necessitating proactive measures and strategic investments.
